Public Service seeks rate hike; blames energy costs
Public Service of New Hampshire announced on Friday that it would ask regulators to approve an energy charge of 9.23 cents per kilowatt hour, effective Jan. 1, an increase of .61 cents per kwh from the current rate of 8.62 cents.
"The updated rate appears to be in line with what is occurring with the region's utilities, largely as a result of higher energy market prices," said PSNH spokesperson Mike Skelton.
The other two regulated utilities previously offered default rates that were equal to or lower than competitive rates, but they, too, are now likely to lose energy supply customers due to rate hikes approved late this year.
Volatile natural gas price
The state's two largest competitive suppliers are offering lower rates than all three regulated utilities. ENH Power is offering a "Long Saver" rate fixed at 8.70 cents per kwh for 24 months. North American Power is offering a 7.99 cent six-month fixed rate, and a 7.69 cent 12-month fixed rate.
PSNH is the only regulated utility in the state that also operates power plants, the cost of which is built into the PSNH energy charge. About one penny of the PSNH energy supply charge is associated with cost-recovery on more than $422 million spent on mercury scrubbers at the Merrimack Station coal-fired plant in Bow.
Speaking at the N.H. Business and Industry Association Energy Seminar last week in Manchester, Jim Shuckerow, director of energy supply for Northeast Utilities, predicted there would be no new "iron in the ground" into New England until 2020, with natural gas prices expected to continue to rise from their 2012-2013 low-water mark between now and then."Perhaps 2013 will be recalled as the good old days of power-supply pricing," he said.
READER COMMENTS: 0
- Looking Back with Aurore Eaton: Manchester's Elliot Hospital grows, evolves - 0
- Looking Back with Aurore Eaton: An early challenge for the Elliot Hospital - 2
- Looking Back with Aurore Eaton: The Elliot Hospital's grand opening - 0
- Looking Back with Aurore Eaton: The start of Manchester's Elliot Hospital began with a generous gift - 0
- Aurore Eaton's Looking Back: The story of Mary and John Elliot of Manchester - 0
- Aurore Eaton's Looking Back: Murdered, Elinus Morrison is laid to rest in the Valley Cemetery - 0
- Aurore Eaton's Looking Back: A shocking Confederate raid in Vermont - 0
- Aurore Eaton's Looking Back: The Civil War comes to Elinus Morrison - 0
- Looking Back with Aurore Eaton: A Civil War tragedy - Elinus Morrison of Manchester - 0
READER COMMENTS: 0
- Mark Hayward's City Matters: Manchester's bike culture shifts into high gear - 0
- Ignoring Lyme: What are state, towns doing? - 0
- Dave D'Onofrio's Sox Beat: Red Sox makeover underway - 0
- Tom Herzig's Trackside: MacDonald has NHMS track experience - 0
- Drew Cline: Scott Brown plans to win over NH one handshake at a time - 0
- Anthony M. Kay - 0
- Walsh paces Sweeney Post past Laconia - 0
- Late rally lifts Red Sox past White Sox - 0
- On Baseball: Matinee win keeps Fisher Cats on a roll - 0
Police say Manchester woman arrested for punching ex-boyfriend during custody exchange in Walmart parking lot
Salem drops $50 permit for Sunday sales
Bikers say under-30 generation isn't interested, and can't afford many of the top motorcycles
Anthony M. Kay
Ban fireworks? Get serious
GOP criticizes Shaheen over gas tax
Ignoring Lyme: What are state, towns doing?
Sentence fragment: Coco's cuckoo release